HONG KONG Aviation Engineering Co (Haeco) is the SAR's largest aircraft maintenance and repair operator.

Indosuez WI Carr put a sell recommendation on the stock a year ago after the company's net profits in the first half of last year fell 22 per cent on the back of a 9.2 per cent decline in turnover.

The brokerage did not expect a turnaround for at least 12 to 18 months.